Invest Securities maintains its 'buy' rating on Airwell, with a price target adjusted from six to 5.8 euros, following the announcement by the heating and air-conditioning equipment manufacturer of a third-quarter sales figure perfectly in line with its expectations.

"The disappointment on the international front (-34%) is fully offset by the faster-than-expected normalization of the French overseas departments and territories and, above all, the excellent performance in France (+37% like-for-like)", the analyst points out.

The latter figure confirms the soundness of our strategy based on a differentiated offering and the absence of exposure to the new housing market", continues Invest Securities, which is marginally adjusting its 2023-25 sales estimates, with no impact on earnings.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.